Press Release

Americans for Hope, Growth and Opportunity

FOR IMMEDIATE RELEASE: January 5, 1998

AMERICANS FOR HOPE, GROWTH AND OPPORTUNITY CHALLENGES PRESIDENT
CLINTON TO PROPOSE A NEW SOCIAL SECURITY SYSTEM FOR YOUNG PEOPLE THAT IS
PRO-FAMILY AND PRO-GROWTH

(Bedminster, New Jersey) Steve Forbes, Honorary Chairman of Americans
for Hope, Growth and Opportunity, a national issues advocacy organization,
today challenged President Bill Clinton to create a new Social Security
system for young people that is pro-family and pro-growth, and to do it
now while there is still time.

"It s clear that the U.S. economy and the stock markets will outperform
the increasingly bankrupt Social Security system over the long haul,"
said Mr. Forbes. "So it doesn t take a rocket scientist to figure out
that the way to help young people and families really save for retirement
is to let them invest their own payroll taxes into the real American economy.
We absolutely must protect those who are on the current system right now,
and those who are going to be in the next 10 to 15 years. But I think people
are increasingly ready to begin phasing in a new system of individual control,
especially as they see how poorly the government-run system is being managed.
The longer we wait, the more difficult the transition is going to be."

"What is quite troubling, however, is that as we head into the sixth
year of this Administration, the current Social Security system is headed
for the financial rocks and President Clinton is yet to propose a comprehensive
plan to save it," said Mr. Forbes.

"It s been a full year since seven out of thirteen panelists on
the President s Social Security Advisory Commission came out in favor of
letting individuals have more control over investing their payroll taxes,"
said Mr. Forbes. "It was last November when Federal Reserve Chairman
Alan Greenspan urged the Administration not to procrastinate over fundamental
reform. Now the President is talking about a special session of Congress
almost a year from now. This kind of drift and delay is a mistake. It s
time to demonstrate presidential leadership and put a real plan on the table."